Buying Advantageously
Here are the steps to follow in order to buy coins to your
best advantage:
Determine what you want: Decide which types or varieties of
coins you want to buy and the grade ranges desired. This may sound silly, but as
it is easier to buy coins than to sell them, it will pay you do determine what
you want to buy before you place an order. For example, don't buy a rare 1877
Indian cent which looks appealing in a catalogue if you haven't determined that
you want to collect Indian cents.
Formulate a collecting (or investing) plan. If you are not
sure, then take your time and buy only when you are ready. Except for great
rarities, most coins available today will still be available next week or next
month. Typical buying plans might include these:
- A set of U.S. coins by design types, with coins dated
from 1793 to about 1860 to be in Fine to VF grade, coins from about 1860 to 1900
to be in AU to MS-60 grade, coins from about 1900 to 1950 to be in MS-63 grade,
and later coins to be MS-65.
- A collection of Indian cents 1859-1909, in nicely matched
EF-40 to AU-50 grade.
- A collection of Morgan dollars 1878-1921 in MS-63 to
MS-64 grade, except for rarities which can be EF to AU.
- A collection of nickel three-cent pieces 1865-1889 in
Proof-65 grade.
- A set of business strike and Proof trade dollars
1873-1883.
- All of the coins minted in your birth year, in MS-65 and
Proof-65 grade.
- A type set of late 19th and early 20th century gold coins
in nicely matched MS-63 grade.
- A date and mintmark collection of Barber half dollars in
MS-63 grade.
